STOCK EXCHANGE INDICES AS AN INVESTMENT INDICATOR

2021 ◽  
pp. 267-278
Author(s):  
NEDELJKO PRDIĆ
Keyword(s):  
Stock Market ◽  
Information Technologies ◽  
Stock Exchange ◽  
Stock Exchanges ◽  
Commodity Market ◽  
Tradable Goods ◽  
Economic Trends ◽  
Historical Role ◽  
Research Show

Stock exchanges are such specialised market institutions where standardised and tradable goods are traded and exchanged, which means precisely defining the quality and all other performances of goods. Trading is enabled by stock exchange customs and strict rules within the law. Stock exchange indices are the basic indicator of the importance of the stock market in the market on the basis of which decisions on investments in the stock market are made. The aim of this paper is to systematise the knowledge about the historical role of commodity exchanges on the market, but also to indicate the importance of the development of information technologies on the modern significance of stock exchanges. The results of the research show that stock exchange indices are the basic indicator of the state and development of the commodity market and investment tendencies. The conclusion is that stock exchange indices are an important factor in the development of the commodity market with special emphasis on their importance in agriculture. They are an indicator of economic trends and an indicator of investment.

scholarly journals The Reasoning of a Responsible Investment Position in the Structure of the Stock Exchange Market

2021 ◽  
Vol 29 (4) ◽  
pp. 232-240
Author(s):  
Anna Vorontsova ◽  
Alex Plastun ◽  
Hanna Filatova ◽  
Elena Kostenko ◽  
Eldar Dzhobava
Keyword(s):  
Stock Market ◽  
Stock Exchange ◽  
Socially Responsible Investment ◽  
Stock Exchanges ◽  
Exchange Market ◽  
Socially Responsible ◽  
Responsible Investment ◽  
Responsible Investing ◽  
Market Transformation

Purpose: To substantiate the place and role of the responsible investment in the structure of the stock exchange market. Methods: Structure-functional in order to form an idea of the structure of the stock exchange market, determining the place and role of responsible investment elements in the stock market organization; systematic analysis to identify current trends and patterns in the functioning of the socially responsible investment segment by geographical regions of the world; statistical and graphical methods for quantitative and visual presentation of the results of the stock market sectors analysis, represented by responsible investment elements. Findings: The definition of «responsible investment» and «stock market» has been clarified; a number of subjects, objects and forms of responsible investment, which are elements of the stock market, are singled out and substantiated; the generalization of activities of stock exchanges in the field of responsible investing is carried out; the dynamics of stock market sector indicators, which are represented by elements of responsible investment, are analyzed; key reporting standards used by stock exchanges in disclosing ESG issues are analyzed. Theoretical Implications: A comprehensive assessment of the functioning of socially responsible investment segment as part of the stock market is carried out, the place and role of responsible investing in the stock market structure are substantiated, which creates a basis for the development of effective measures to increase the stock market efficiency of Ukraine and its transformation into an effective and stable source of investment resources. Future Research: The results can be used in the context of further study of the stock market transformation in Ukraine on the basis of a socially responsible trajectory and fractal analysis. Paper Type: Theoretical.   The study was performed within the state budget research «Fractal model of the stock market transformation in Ukraine: socially responsible investment to achieve the Sustainable Development Goals» № 0121U100473.

scholarly journals Relationship between Volatilities of Stock Market and Instruments of Monetary Policy in Vietnam

2015 ◽  
Vol 22 (1) ◽  
pp. 82-99
Author(s):  
Thao Tran Phuong ◽  
Thuy Phan Chung
Keyword(s):  
Monetary Policy ◽  
Stock Market ◽  
Stock Exchange ◽  
Daily Basis ◽  
Stock Exchanges ◽  
Market Maker ◽  
Rate Data ◽  
Stock Indexes ◽  
The Relationship

Volatility of stock exchange and its determinants always attract the attention of investors, researchers and exchange authorities. The research estimates the volatility of Vietnam stock market by measuring the conditional volatility of VN-Index and HNX-Index, and explores the relationship between the volatility of stock exchanges and the volatility of two instruments of monetary policy (overnight rate and exchange rate). Data are collected on a daily basis from Jan. 5, 2006 to March 31, 2014. The research found evidence of volatility of returns through the two indexes and two instruments, but it detected no relationship between the volatilities of these instruments and the stock indexes. Additionally, the research confirms the role of VN-Index as a market maker over HNX-Index.

scholarly journals Role of Stock Exchanges in Economic Development of Uzbekistan

2016 ◽  
Vol 10 (1) ◽  
pp. 172 ◽  
Author(s):  
Ulugbek Khalikov
Keyword(s):  
Economic Development ◽  
Stock Market ◽  
Stock Exchange ◽  
Stock Exchanges ◽  
Investment Climate ◽  
Stock Market Development ◽  
Documentary Analysis ◽  
Market Trends ◽  
Recent Government

The paper is devoted to study the contemporary role of investments to economic development in the context of Uzbek stock exchange. The comparative analysis of economic development and stock market trends in Uzbekistan, Kazakhstan and Russia for the period of 2000-2015 are conducted using documentary analysis, quantitative and qualitative analysis, and other statistical methods of research.The results reveal that Uzbekistan has made notable change in regulation and improvement of investment climate and has stable economic development trends for the studied period. However, Stock market development in Uzbekistan remains weak and recent government effort to accelerate privatization is expected to boost the market and support foreign investments attraction.

scholarly journals Diversification opportunities in European stock markets and their impact on textile industry development based on a financial education approach

2021 ◽  
Vol 72 (05) ◽  
pp. 528-537
Author(s):  
CRISTI SPULBĂR ◽  
RAMONA BIRĂU ◽  
VICTOR OLUWI ◽  
ABDULLAH EJAZ ◽  
TIBERIU HORAȚIU GORUN ◽  
...  
Keyword(s):  
Stock Market ◽  
Textile Industry ◽  
Stock Exchange ◽  
Financial Education ◽  
Sustainable Growth ◽  
Stock Exchanges ◽  
Portfolio Risk ◽  
Stock Indices ◽  
High Investment ◽  
European Stock Markets

This research study explores the diversification opportunity among 18 European stock market indices for the sample period from January 2001 to December 2019. However, financial education plays an important role in the development of the textile industry, considering the dynamics of the companies listed on the European stock exchanges. The correlation matrix, pairwise cointegration and Johansen cointegration reveal that selected 18 European stock market indices do not reduces the portfolio risk because exhibit higher positive correlation among them, and their movement pulsed in tandem. Potential investors are attracted by high investment opportunities in order to maximize their return based on portfolio diversification. Financial education can effectively contribute to the sustainable growth of the textile industry in Europe. This empirical research provides an integrated perspective on the long-term evolution of certain major European stock exchange indices. The findings have significant implications for investors interested in selecting these European stock indices in order to diversify their portfolio risk. Our study also imply that selected stock indices have been strongly affected by similar political and financial belies across Europe thus, eliminating the possibility of portfolio risk diversification.

scholarly journals UKRAINIAN STOCK MARKET: STATE AND PROSPECTS OF DEVELOPMENT

2020 ◽  
Vol 11 (87) ◽  
Author(s):  
Okseniuk Kateryna ◽  
Keyword(s):  
Stock Market ◽  
Innovation Policy ◽  
Stock Exchange ◽  
Securities Market ◽  
Stock Exchanges ◽  
Government Bonds ◽  
Market State ◽  
Legislative Framework ◽  
High Degree ◽  
Securities Trading

The article is devoted to the study of the current state, problems and prospects of development of the Ukrainian stock market. It is proved that the stock market is a tool for implementing the state's Innovation Policy and a priority factor in mobilizing financial and capital resources. Stock market commodities are securities (stocks, bonds, etc.). Trends, features of functioning and development of the Ukrainian stock market are analysed. The analysis of the main indicators of exchanges, the structure and volume of exchange contracts with securities is carried out. The structural distribution of exchange contracts by trading organizers is established. The analysis of operations with securities on the organized market, unorganized market and stock exchanges of the country is carried out. The largest volume of trading on financial instruments on trade organizers in 2019 was recorded with government bonds of Ukraine – UAH 295 billion according to the National Securities and stock market Commission, the exchange market during 2019 saw consolidation of securities trading on two stock exchanges “Perspektyva” and “PFTS Ukraine Stock Exchange”: 98.7% of the value of exchange contracts. Analysis of the main indicators that determine the state of the stock market has shown that the modern securities market of Ukraine is characterized by an extremely high degree of fragmentation, limited liquidity and a variety of types of securities, which, in turn, are the main obstacles to the development of the stock market and the capital market as a whole. Attention is focused on the main problems that hinder the functioning of the stock market. It is proved that the development of the stock market is hindered by: insufficient competitiveness of the domestic stock market; imperfect tax incentives for market development; low level of corporate governance development; imperfect regulatory and legislative framework of Ukraine; low liquidity and capitalization. The directions of development of the stock market of Ukraine are proposed: improving the efficiency of regulation of issuers; stimulating the inflow of investment to the stock market; ensuring reliable and efficient functioning of the market infrastructure; ensuring the functioning of the unified state policy for stimulating the improvement of the investment climate.

COMMODITY EXCHANGE AS AN INNOVATION-INSTITUTIONAL ELEMENT OF THE DEVELOPMENT OF INTERNATIONAL COMMODITY MARKETS

2019 ◽  
pp. 52-59
Author(s):  
Andrii BLAHODATNYI
Keyword(s):  
Stock Market ◽  
Stock Exchange ◽  
Precious Metals ◽  
Commodity Markets ◽  
Asia Pacific ◽  
Stock Exchanges ◽  
Commodity Exchange ◽  
International Commodity ◽  
Futures Options ◽  
Geographical Regions

The article examines the role of the commodity exchange as an innovative and institutional element in the development of international commodity markets. The current trends in the development of the international commodity stock market have been determined, compared to the volumes of world futures and options for 2018-2019, the number of outstanding contracts and their changes have been investigated. The transformation processes inherent in the international commodity exchange are considered and characterized. The structure of the international stock market by geographical regions is reflected. Trading volumes in different regions of 2019 are compared to 2018. Analysis of futures, options index of the capital index, interest rate trading, energy futures, options trading and precious metals trade have been done. The results of the world's largest stock exchanges by volume of trading in 2018-2019 are presented. One of the criteria examined is the volume of trading on the Intercontinental Exchange, which is due to the lower level of activity on all its subsidiaries in Europe, North America and the Asia-Pacific region. The current state of stock exchange trade in Ukraine is analysed, examples of obstacles for the effective functioning of stock exchanges of Ukraine are given. The development of commodity exchanges in Ukraine over recent years is considered, with an indication of the tendency of their development. Examples of commodities are indicated that will be used for the development of the commodity stock market of Ukraine. The statistical information on the number and structure of exchanges by specialization, their characteristics and role are investigated. The conclusions on the stock role market in an economy have been formed. The international experience of trading on the exchanges is generalized. The evolution of the stock market from the fair to the modern electronic stock market with its advantages and convenience is noted. The conclusions of the development of stock exchange trade in Ukraine are summarized: namely obstacles to its development and misunderstanding of advantages. Suggestions for successful development of stock exchange trading are given in accordance with world experience and national peculiarities. Key words: commodity exchange, futures, option, stock trading, international commodity exchanges, agricultural products, market infrastructure, stock exchange.

scholarly journals Adaptive Market Hypothesis: Evidence from the Vietnamese Stock Market

2019 ◽  
Vol 12 (2) ◽  
pp. 81 ◽  
Author(s):  
Dzung Phan Tran Trung ◽  
Hung Pham Quang
Keyword(s):  
Stock Market ◽  
Stock Returns ◽  
Stock Exchange ◽  
Ho Chi Minh City ◽  
Stock Exchanges ◽  
Ratio Test ◽  
Time Varying ◽  
Variance Ratio ◽  
Variance Ratio Test ◽  
The Relationship

This paper aims to test the adaptive market hypothesis in the two main Vietnamese stock exchanges, namely Ho Chi Minh City Stock Exchange (HSX) and Hanoi Stock Exchange (HNX), by measuring the relationship between current stock returns and historical stock returns. In particular, the tests employed are the automatic variance ratio test (“AVR”), the automatic portmanteau test (“AP”), the generalized spectral test (“GS”), and the time-varying autoregressive (TV-AR) approach. The empirical results validate the adaptive market hypothesis in the Vietnamese stock market. Furthermore, the results suggest that the evolution of HSX has served as an important factor of the adaptive market hypothesis.

scholarly journals Measuring Co-Movements and Linkages between Nigeria and the UAE Stock Exchanges: Is there Opportunity for Portfolio Building?

2020 ◽  
Vol 1 (2) ◽  
pp. 106-122
Author(s):  
Shafiu Abdullahi
Keyword(s):  
Stock Market ◽  
Financial Market ◽  
Market Integration ◽  
Stock Exchange ◽  
Portfolio Diversification ◽  
Empirical Literature ◽  
Stock Exchanges ◽  
Financial Contagion ◽  
Stock Market Integration ◽  
Short Run

Purpose: The main objective of this study is to examine the relationship between Nigerian Stock Exchange and Dubai stock exchange with the aim of finding out the direction of movements between their respective indices. Approach/Methodology/Design: The methodology adopted for the analysis is ARDL cointegration model and the Generalized Method of Moment (GMM). This is because of their known efficiency in detecting patterns between variables. Findings: The result of the short-run analysis using GMM shows that there is existence of short-run causality between the Dubai financial market (DFM) and the Nigerian stock exchange (NSE). Thus, for investors looking for short- run arbitrage opportunity between the markets, they shall look elsewhere. But, the result of bound testing has shown lack of cointegration between the two markets. This is a sign of existence of opportunities for portfolio diversification between Nigeria stock exchange and Dubai financial market, since the two markets are not cointegrated in the long-run. Practical Implications: The study helps bridge the empirical literature gap in stock market integration and portfolio diversification with reference to the Nigeria and UAE. It will, therefore, guide local and foreign investors with interest in Nigeria and UAE Stock Exchanges. It will also guide Nigerian and UAE policy makers to understand the market better, especially as it concerns financial contagion. Originality/value: This study provides further evidence on stock market integration in emerging markets. New researches shall adopt different methodology such as use of volatility tracking models to measure volatility linkage between the markets.

scholarly journals JUSTIFICATION OF THE ESSENCE, FUNCTIONS AND PURPOSE OF GRAIN FUTURE EXCHANGE MARKET OF AGRICULTURAL PRODUCTS

2021 ◽  
Author(s):  
Hrechaniuk L. M.
Keyword(s):  
Stock Market ◽  
Stock Exchange ◽  
Market Price ◽  
The State ◽  
Agricultural Products ◽  
Commodity Market ◽  
Exchange Market ◽  
Financial Instrument ◽  
Domestic Stock ◽  
Future Exchange

In the article analyzes the development of the domestic stock market. It is substantiated that crop futures are a derivative financial instrument on the stock exchange, which provides for the obligation of its seller or buyer to periodically transfer sums of money to the opposite party depending on changes in the market price of grain, and (or) the obligation delivery of grain on time. It is determined that only under the conditions of joint efforts on the part of the state, the exchange community, participants of the agrarian market that will allow bringing the exchange commodity market closer to civilized bases.

Sign in / Sign up

Export Citation Format

Share Document